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May 13, 2010
Ratner, Prokhorov: A Winning Combination
GlobeSt.com
by Alyson Grala
Yes, nearly as impressive a combination as eminent domain abuse and massive corporate welfare.
Prokhorov’s agreement to buy the Nets, and take a stake in the arena that will house them, pulled the entire $4-billion Atlantic Yards project from the brink of a collapse brought on by a slack economy, lawsuits and cost-overruns associated with Frank Gehry’s initial design.
...But not everyone was as fired up about Prokhorov coming to Brooklyn. Several lawmakers called for a delay to the approval due to allegations that Prokhorov earned his billions in part through shady business dealings with Zimbabwe, a country under US sanction. One of the more vocal, New Jersey Congressman Bill Pascrell Jr. (D) said in a statement, "Mr. Stern has refused to confirm or deny to me whether the league's vetting operation looked at Mr. Prokhorov's businesses in Zimbabwe and his investment bank's ties to a massive public corruption scheme." Pascrell, who's district is based in Paterson, NJ, added, "This is simply unacceptable to me and the millions of basketball fans across the country who hold the NBA to a higher standard.
NoLandGrab: Higher standard? It's pretty clear by now that the NBA doesn't have any standards.
Posted by eric at May 13, 2010 11:15 PM